Philippines News

Philippine c.bank: no need for new capital controls

Reuters - 2 hours 26 minutes ago

MANILA, Nov 25 (Reuters) - The Philippine central bank has enough tools to manage large inflows of foreign capital so there is no need to impose new policies to restrict an influx of funds, Governor Amando Tetangco said. More »

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Imports continue huge decline in September
GMANews.TV - 2 hours 38 minutes ago
Philippine imports dropped by a fourth in September but posted a marginal growth compared to the previous month's, the government reported on Wednesday.
Bahrain companies to visit RP, eye investments in fish production
GMANews.TV - Wednesday, November 25
At least six Bahrain companies will be visiting the Philippines over the weekend, seeking business ventures in local mariculture parks, which are self-contained fishery production zones.
MPIC rebuffs GSIS on Meralco tender offer threat
GMANews.TV - Wednesday, November 25
Holding company Metro Pacific Investments Corp. on Tuesday said it remains unfazed despite the cases filed by state pension fund manager Government Service Insurance System over its planned acquisition of additional shares in Manila Electric Co.
EDC sells more retail bonds than originally planned
GMANews.TV - Wednesday, November 25
Energy Development Corp. (EDC), the Philippines’ largest geothermal energy producer, sold more retail bonds than originally planned due to increased investor appetite.
BOI grants tax breaks to projects in oil, real estate sectors
GMANews.TV - Wednesday, November 25
The Board of Investments granted tax holidays to various business ventures, particularly in the oil and property sectors, worth more than a billion pesos.
Meralco seeks court verdict declaring agreement with Napocor valid
GMANews.TV - Wednesday, November 25
Manila Electric Co. (Meralco), the Philippines’ largest electricity distributor, has asked a court to declare its settlement agreement with the National Power Corp. (Napocor) as valid.
Campos-led Greenfield eyes 'future-ready' developments
GMANews.TV - Wednesday, November 25
Campos-led developer Greenfield Development Corp. is seeking to do more projects on its own instead of its usual partnership with other property company.
Customs likely to miss financial goals this year
GMANews.TV - Wednesday, November 25
The Philippines’ Bureau of Customs (BOC), the government’s second-largest revenue source, may likely miss its targets this year.
Local shares end mixed as players turn cautious
GMANews.TV - Tuesday, November 24
Cautiousness among investors prompted Philippine shares to end mixed on Tuesday.
Manila says may cancel Intex's $2.4 bln nickel project
Reuters - Tuesday, November 24
MANILA, Nov 24 (Reuters) - The Philippines may cancel a mining permit for a $2.4-billion nickel project by Norway's Intex Resources ASA <ITXX.OL> if a probe shows local communities were not consulted about it, a top official said on Tuesday.
Philippine customs sees 2009 revenue 36 bln pesos short
Reuters - Tuesday, November 24
MANILA, Nov 24 (Reuters) - The Philippine Bureau of Customs is likely to fall about 36 billion pesos ($764 million) short of its goal to collect 273.3 billion pesos this year, Commissioner Napoleon Morales said on Tuesday.
RP, 11 nations vow to protect region's coastlines, marine environment
GMANews.TV - Tuesday, November 24
The Philippines, together with 11 other East Asian nations, are set to endorse on Thursday a declaration stipulating their commitment to protect the region’s coastline and marine environment.
COA has yet to submit Meralco audit results
GMANews.TV - Tuesday, November 24
The Commission on Audit (COA), the state’s supreme auditing body, may soon submit the results of its examination of the books of Manila Electric Co., the country’s largest and Metro Manila’s sole power distributor, an official of the Energy Regulatory Commission said.
Yields on RP's short term debt securities decline
GMANews.TV - Tuesday, November 24
Yields on short-term government securities fell after investors offered to buy more debt papers, expecting that the Arroyo administration would need more funds after it breached its spending limits.
Demand likely boosted RP economy in third quarter
GMANews.TV - Tuesday, November 24
Domestic consumption likely drove the economic growth of the Philippines for the third quarter, the Development Bank of Singapore said.
Demand likely boosted RP GDP in third quarter
GMANews.TV - Tuesday, November 24
(Updated) Domestic consumption likely drove the economic growth of the Philippines for the third quarter, the Development Bank of Singapore said.
Waterfront to borrow new funds for debt payment, hotel renovation
GMANews.TV - Tuesday, November 24
Waterfront Philippines Inc., which claims to be the country’s leading hotel operator, will borrow new funds to settle obligations and renovate its properties.
Filinvest Land raises fresh capital via bonds offering
GMANews.TV - Tuesday, November 24
Gotianun-led Filinvest Land Inc. on Monday disclosed that its bond offering was oversubscribed by three times.
RP may import 3 million MT of rice in 2010
GMANews.TV - Monday, November 23
If climate change will continue to affect the country’s agriculture production, Manila may import as much as 3 million metric tons of rice next year.